Super crash

The median balanced super fund lost 3.9 per cent in June, and 6.39 per cent over the year to June according to data released by SuperRatings yesterday. The losses are the worst annual results for super funds since superannuation became compulsory in 1992. SuperRatings found that the gap between the best and worst performing balanced funds over a 10 year period was 5.56 per cent. Had two people invested the same amount in the balanced options of these two funds, the difference in their current benefits would be approximately 68 per cent. Many super funds are holding up to 20 per cent of their funds in cash investments, up from an average of about 5 per cent. The funds that performed the best for the year to June 30 were Vision Super, PSS and MTAA.

Source: News.com.au

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